The Daily 'Newspaper' is Now Published on iPad

After weeks of rumors, whispered details from sources, and speculation, News Corp. and Apple have finally launched The Daily, a publication exclusively for Apple’s iPad tablet.

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It’s been a year since the iPad was launched, and though we’re already gearing up for iPad 2, it seems media companies are still having trouble squeezing revenue out of digital content. Over the last few months, Apple and Rupert Murdoch have been working on a subscription-based daily newspaper to be delivered directly to the customer’s iPad. Yesterday they launched the newspaper, dubbed The Daily, at an event in New York City.

The idea is a simple one: get people to subscribe to content they can only get via the iPad and charge them a weekly or monthly fee. News Corp. and Apple are charging a fairly modest 99c per week, or $40 per year and promising 100 pages of fresh content with every new issue. The content will incorporate the traditional text and photographs but will also feature some more interactive experiences, such as videos and the ability to share content via social networks.

News Corp. is hoping the new venture will revitalize newspaper revenues and Rupert Murdoch yesterday admitted that the digital age has brought the need for a fresh approach to journalism and publishing.

"New times demand new journalism," Fast Company quotes him as saying. “The iPad demands that we completely re-imagine our craft," he added.

The Daily app cost News Corp. $30 million to develop. Fast Company reports that it will carry running costs of roughly half a million dollars a week, meaning a required 500,000 subscribers before they break even.